Reagan Budget Emphasizes Four Recovery Principles
Excerpts from President Reagan’s budget message to Congress outline four core goals: cut personal and business tax rates, slow federal spending growth, reduce regulatory burdens while safeguarding safety, and pursue a steady monetary policy to curb inflation. The plan aims to meet the Gramm Rudman Hollings deficit target for 1990 and reach a balanced budget by 1998, with defense funding maintained and various programs reformed or reduced.
MENTIONED IN THIS ARTICLE
America
Congress
Reagan Budget Seeks Tax Shifts On Air Travel And Medicare
President Reagan proposes to repeal the next year’s tax cut for air travelers and shippers and to require all state and local workers to pay the Medicare tax. The plan includes 1.7 billion in corporate cuts with foreign operations and 1 billion in new or higher fees.
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Washington
Reagan
Congress
Addon
Farm Budget Cuts Hit USDA Programs in 1990 Plan
The Reagan administration proposes a 19 percent cut in agriculture spending for 1990 including farm commodity programs and rural development. Total USDA outlays would fall to 42.4 billion from 52.1 billion, with CCC supports dropping to under 11.6 billion and drought relief costs trimmed. The plan keeps food programs largely intact, but targets school lunch subsidies for non needy children and shifts Farm Home Administration loans from direct to guaranteed loans while disaster loans fall.
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Washington
Reagan
USDA
Department
Commodity Credit Corp
CCC
Stephen B. Dewhurst
Congress
Farmers Home Administration
Fmha
Reagan seeks budget shifts to boost health funding cuts to providers
The Reagan administration asks Congress to raise overall health funding by 5.7 percent to 424.4 billion for fiscal 1990 at the Department of Health and Human Services while trimming growth in Medicare and Medicaid. It would add 311 million to AIDS efforts, raise total AIDS spending to 1.6 billion, and cut physician and hospital payments by 3.5 billion across Medicare and related programs.
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U.S
Department of Veterans Affairs
Veterans Trong Te Tn
Reagan
Washington
Congress
Department of Its and Human Services
Department
Bureau
Modest Revival Proposed In Engineer Water Projects
Washington proposes a modest revival in Army Corps of Engineers water projects and faster user payments for Bureau of Reclamation works in the West. The plan includes $85.5 million for six stalled corps projects and four new ones in Ohio Texas Pennsylvania and West Virginia, with total outlays $4.15 billion, a 4.9 percent drop from this year.
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Washington
Army Corps of Engineers
Bureau of Reclamation
West
Corps
Conress
Congress
Ohio
Texas
Pennsylvania
West Virginia
Bureau
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Bureau of Reclamation Projects
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